29.07.2015 - ​Technical view

Currencies trading and euro. The price of EUR/USD continues moving inside the local ascending trend and currently is located near the level of 1.1080. In case of breaking the upper limit of the downward channel, quotes will continue to rise to the level of 1.1200. On the other hand, to overcoming of support at 1.1000 will be a signal to open short positions. Our medium-term outlook remains negative.

Nearest resistance levels: 1.1080, 1.1150, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1000, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD is gradually increasing and will soon reach the level of resistance at 1.5650. Fixing above this level will be the basis for continued growth to the target levels at 1.5800 and 1.5900. In case of resumption of the downward movement, the quotations will reach an inclined support line and the level of 1.5460. We maintain a medium-term negative outlook but expect limited growth in the near future.

Nearest resistance levels: 1.5650, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY after reaching the upper limit of the downward channel has renewed local decline, and can reach a local minimum at 123.00 in the near future. In case of fixing below this mark, we expect a drop in prices to 122.00, 121.50 and 120,20. On the other hand, a signal for opening long positions will be fixing the price above the level of 124.25. Our medium-term outlook remains positive.

Nearest resistance levels: 124.25, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 122.00, 121.50, 120.20, 119.00, 118.50, 117.40

Currencies trading and Australian dollar. The price of AUD/USD increased to the level of 0.7350, but failed to overcome it and may soon resume the downward movement to a local minimum at 0.7250 and target levels of 0.7200 and 0.7250. In case of continued growth, the signal of a trend change will be breaking through the upper boundary of the descending channel and fixing the price above the important level of 0.7500. We recommend to hold short positions and maintain the medium-term negative outlook.

Nearest resistance levels: 0.7350, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900, 0.8000

Nearest support levels: 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD has broken the upper boundary of the descending channel and currently is consolidating near important level of 0.6700. In case of continued growth, quotations may reach the level of 0.6800, fixing above which will be signal for opening long positions. At the moment, there is the possibility of renewed downward price movement with the potential drop to 0.6600 and 0.6500. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200, 0.7260

Nearest support levels: 0.6600, 0.6500, 0.6360, 0.6200, 0.6000

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